Cryptocurrency adoption is inevitable, but without strengthening our approach to user education, the process will be slow. Only with increasing difficulty can one recall a time when the majority of the world was yet to adopt the internet. In 1995, user adoption of the internet had only reached 10% of American households, five years after…
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Bridgewater CIO Ray Dalio claims capital markets are no longer free as central banks drive more of the economy. Ray Dalio, the billionaire hedge fund manager and founder and chief investment officer of Bridgewater Associates, believes capital markets are no longer free. Speaking to Bloomberg, Dalio said markets have changed a lot so central banks…
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Exploring six major points regarding Tether’s impact on geopolitics and the future development of sovereign digital currency. In 2008, a momentous occasion took place with the release of the Bitcoin (BTC) white paper. With author Satoshi Nakamoto explicitly calling for the deconstruction of financial intermediaries, regulators around the world were put on alert, particularly as…
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Global stablecoins could provide market participants with a cost-efficient means to rebalance their capital across global markets. In the past year, three major financial oversight bodies have voiced concerns about threats to financial stability purported to be posed by stablecoins. While acknowledging the potential for enhanced payments efficiency, reports from the Bank for International Settlements,…
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Peter Schiff agrees with the Fed that Bitcoin should be classified as fiat currency. Economist, financial commentator and gold advocate Peter Schiff once again bashed Bitcoin in a tweet, essentially calling it fiat currency — the name for regional currencies, such as the U.S. dollar. “The Fed gets Bitcoin right,” Schiff said in a June…
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The chairman of the Federal Reserve sees no issues with the massive expansion of the Fed’s balance sheet and believes that inflation will struggle to stay above the target. Jerome Powell, the chairman of the Federal Reserve, reported on the state of the economy at a Senatorial hearing held on June 16. During the initial…
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With the failure of traditional, centralized finance to beat the new economic crisis, people will turn to Bitcoin as the best solution. The COVID-19 pandemic forced the world to hit the brakes on economic activity, and in response, the United States Federal Reserve has introduced trillions of U.S. dollars to pay for the stimulus packages…
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U.S. Fed Chair Jerome Powell said an Ethereum-based interest reference rate works, but maybe not for everyone. In a May 28 letter to Senator Tom Cotton (R-AR), Jerome Powell, Chairman of the U.S. Federal Reserve, described an interest reference rate based on the Ethereum blockchain, called Ameribor, as effective for some, but not all. Ameribor…
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The centralized financial system has compromised itself several times during the last two decades alone, and now it’s time for a serious change! Did you notice the song that Christian Bale’s character was jamming out to in his office when his partner came in to pull the money in The Big Short? Well, it happens…
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Judy Shelton, President Trump’s nominee for the Federal Reserve board of governors, has advocated for getting back to a gold standard, possible “in a very cryptocurrency way.” President Donald Trump’s nominee for the Federal Reserve board of governors is reiterating her advocacy for the gold standard — and adding digital currency into the mix. In…
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